Pipeline Therapeutics Secures $30 Million Series B Financing to Advance Regenerative Therapies for Neurological Disorders

On December 18, 2019, VCBeat (WeChat Official Account: vcbeat) learned that biopharmaceutical company Pipeline Therapeutics announced the completion of a $30 million Series B financing round led by new investor Sectoral Asset. Founding investor Versant Ventures also participated, while new investors Cleva Pharma Capital (a subsidiary of Brace Pharma), RBV Capital, and Hadean Ventures joined the round.

Pipeline Therapeutics is a biopharmaceutical company dedicated to the development and commercialization of small-molecule drugs. With this financing, Pipeline Therapeutics plans to leverage the funds to advance its regenerative therapy portfolio, which promotes functional recovery in various neurological disorders. Its lead candidate, PIPE-505, is entering Phase 1b/2a clinical trials; the study is expected to commence in the fourth quarter of 2019, with top-line results anticipated by late 2020. This drug is indicated for the treatment of mild-to-moderate sensorineural hearing loss. Additionally, the company is developing PIPE-307, a selective M1 receptor antagonist, for the treatment of multiple sclerosis and other demyelinating diseases. PIPE-307 has the capacity to regenerate myelin around axons, thereby addressing a critical unmet need in multiple sclerosis therapy.

Mr. Carmine Stengone, President and Chief Executive Officer of Pipeline Therapeutics, stated, “This investment validates our approach to developing novel neuroregenerative therapies to address patients’ medical needs.” Meanwhile, Dr. Ozawa, a founding investor in Pipeline Therapeutics, said, “We thank both new and existing investors for helping us achieve this milestone financing. Pipeline Therapeutics is pioneering a new approach in neuroregenerative science to address the current unmet medical need for hearing loss, which holds significant promise.”

About Versant Ventures

This is a leading healthcare investment firm dedicated to helping exceptional entrepreneurs build great companies. The company invests across the healthcare sector and at various stages of corporate development, with a focus on the discovery and development of novel therapies. Versant Ventures manages CAD 2.3 billion in assets and has established a team with deep expertise in investment, operations, and science, with offices in Canada, the United States, and Europe.

About Brace Pharma

Brace Pharma Capital, established in Maryland, USA, is a strategic investment firm composed of EMS S/A, Brazil’s largest pharmaceutical company, and high-net-worth biotechnology investors. The company specializes in investing in clinical-stage projects.

About RBV Capital

This is a venture capital fund focused on life sciences, headquartered in Moscow, Russia, with a partner office in Vevey, Switzerland. RBV Capital invests in diverse sectors including pharmaceuticals, biologics, digital health products, and medical devices to address unmet medical and market needs. The investment firm has the potential for global expansion.

About Hadean Ventures

Hadean Ventures is a life sciences fund management company that invests in the life sciences sector, with a particular focus on venture capital investments in companies across the Nordic region. Its capital is primarily sourced from private investors and other private equity firms. The company maintains offices in Oslo and Stockholm and collaborates with world-class academic institutions and entrepreneurship hubs in the region.

(Compiled by Wang Jingna)